Titan published this data in their recent Q1 FY25 presentation:
Now I tried comparing Titan (a house of brands) with LVMH. Results are interesting:
| Category | Segment | Titan Brands | LVMH Brands |
|---|---|---|---|
| Jewellery | Luxury | Zoya | Bulgari, Chaumet |
| Premium | Tanishq | Fred | |
| Mid-Market | Mia by Tanishq, CaratLane | ||
| Watches & Wearables | Luxury | Nebula | TAG Heuer, Hublot, Zenith |
| Premium | Edge by Titan, Xylys | Dior Watches, Louis Vuitton Watches | |
| Mid-Market | Titan, Raga by Titan, Fastrack | ||
| Mass Market | Sonata | ||
| Eyecare | Premium | Titan Eye+ | |
| Mid-Market | Titan Eye+ | ||
| Indian Dress Wear | Premium | Taneira | |
| Fragrances | Luxury | Dior, Guerlain | |
| Premium | Givenchy, Kenzo, Benefit Cosmetics | ||
| Mid-Market | SKINN, Fastrack Perfumes | ||
| Fashion Accessories | Luxury | Louis Vuitton, Dior, Celine, Loewe, Givenchy | |
| Premium | IRTH | Kenzo, Fendi | |
| Mid-Market | Fastrack | ||
| Wines & Spirits | Luxury | Dom Pérignon, Moët & Chandon, Veuve Clicquot | |
| Premium | Hennessy, Glenmorangie | ||
| Selective Retailing | Luxury | Sephora, Le Bon Marché |
Tl;dr my thesis in investing in Titan is not just a jewellery brand (although 80% of business comes from Jewellery today).
But its final destination is Indian LVMH – started from India, and expanded globally.
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